Wedbush Reaffirms “Neutral” Rating for OmniVision Technologies (OVTI)
OmniVision Technologies (NASDAQ:OVTI)‘s stock had its “neutral” rating reaffirmed by Wedbush in a research note issued on Friday. They currently have a $28.00 target price on the stock, up from their previous target price of $27.00. Wedbush’s price objective suggests a potential upside of 3.02% from the stock’s previous close.
OVTI has been the subject of a number of other recent research reports. Analysts at Robert W. Baird reiterated a “neutral” rating on shares of OmniVision Technologies in a research note on Friday. They now have a $27.00 price target on the stock. Separately, analysts at Raymond James upgraded shares of OmniVision Technologies from an “underperform” rating to a “market perform” rating in a research note on Friday. Finally, analysts at S&P Equity Research reiterated a “buy” rating on shares of OmniVision Technologies in a research note on Friday, August 15th. They now have a $8.92 price target on the stock, down previously from $15.07. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $22.77.
OmniVision Technologies (NASDAQ:OVTI) opened at 27.18 on Friday. OmniVision Technologies has a 1-year low of $13.55 and a 1-year high of $28.34. The stock has a 50-day moving average of $24.11 and a 200-day moving average of $20.45. The company has a market cap of $1.536 billion and a price-to-earnings ratio of 15.99.
OmniVision Technologies (NASDAQ:OVTI) last announced its earnings results on Thursday, August 28th. The company reported $0.91 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.52 by $0.39. The company had revenue of $406.50 million for the quarter, compared to the consensus estimate of $381.50 million. During the same quarter last year, the company posted $0.55 earnings per share. OmniVision Technologies’s revenue was up 22.8% compared to the same quarter last year. On average, analysts predict that OmniVision Technologies will post $1.62 EPS for the current fiscal year.
OmniVision Technologies, Inc (NASDAQ:OVTI) designs, develops and markets integrated and semiconductor image-sensor devices.
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